Ukraine creditor group hopes to meet with IMF, Kiev soon

LONDON, June 22 (Reuters) - A committee of Ukraine's
bondholders said on Monday that a debt restructuring plan
proposed by Kiev was based on IMF estimates that were not yet
publicly available, adding it hoped to meet with the Fund and
Ukraine's government soon.

Ukraine is negotiating with foreign bondholders to
restructure $23 billion of debt as part of a broader
International Monetary Fund-led bailout package, but talks have
stalled over a disagreement on the necessity of a writedown on
the principal of the bonds.

The Ukrainian finance ministry made a $75 million coupon
payment on a Russian-held bond on Monday, but has threatened to
halt all payments if bondholders fail to make use of a "last
chance" debt offer launched last week.

The creditor group, led by Franklin Templeton, said it was
evaluating the latest proposal from Ukraine, noting that the
assumptions on which it was based would not be publicly
available until mid-July.

"In order to properly consider the proposal, the Committee
and its advisers urge Ukraine and the IMF to publish those
assumptions as soon as possible," creditors said in an emailed
statement.

The new offer from Kiev is based on a worsened outlook for
the Ukrainian economy and, like the initial proposal, it
includes cuts in coupon and principal amounts and maturity
extensions, Finance Minister Natalia Yaresko said on Friday.

The IMF has forecast Ukraine's GDP falling 9 percent this
year, rather than the previously expected 5.5 percent, but
updated economic forecasts will only be published in a statement
following an IMF board meeting on Ukraine expected in July.

The creditor group said it expected to meet with Ukraine's
government and the IMF as soon as possible, though no date had
yet been agreed.

"We view it as vital that all parties sit down and negotiate
a deal in good faith, without preconditions, as soon as
possible," the statement said.

On Friday Yaresko said the three-way meeting would be held
this week, without naming the day. Describing creditors'
approach up until then as not constructive, she said Ukraine
would stop servicing its debt if a deal is not reached within
weeks.

Russia, which has refused to participate in restructuring
talks, said on Monday it had received a coupon payment from
Ukraine on a $3 billion Eurobond.

The IMF has weighed in on the side of the Finance Ministry,
promising to keep lending to Ukraine even if it halts debt
payments. It described a proposal by creditors to use central
bank reserves to repay debt as "inconsistent" with the targets
of the restructuring process.
(Reporting by Karin Strohecker; Additional reporting by Katya
Golubkova and Darya Korsunskaya in Moscow; Writing by Karin
Strohecker and Alessandra Prentice; Editing by Catherine Evans)